Neurology Clinical Trials Market Size to Hit USD 10.7 Bn by 2030

According to Nova one advisor, the global Neurology Clinical Trials market was valued at USD 6.1 billion in 2021 and it is expected to hit around USD 10.7 billion by 2030 with a CAGR of 5.9% during the forecast period 2022 to 2030.

This is largely attributed to big pharma companies conducting innovative trials in neurology, increased government funding from the National Institute of Neurological Disorders and Stroke (NINDS), and stringent regulatory requirements pertaining to clinical trials.

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Neuroscience continues to receive a healthy level of early investment. It received USD 1.5 billion in venture capital funding in 2018, second only to cancer, indicating that investors expect a large pharma acquisition to pay off in the near future. As the industry strives to move past the many late-stage clinical failures of recent years, early diagnosis of diseases is attracting investment and driving deal-making in the complex neuroscience sector, particularly for pain and Alzheimer’s disease.

In terms of deal volume, no other therapy area comes close to matching oncology, but neuroscience is among the nearest contenders. Despite a drop in total expected value in 2017, the number of neuroscience-related licensing deals has gradually climbed over the last decade. The vast majority of neuroscience agreements ~90%have a primary neurological focus, which corresponds to the level of R&D activity in the two disciplines.

Many experimental therapeutics require dosage by on-site administration and carefully scheduled outcome measure evaluations hence, the COVID-19 pandemic has significantly harmed the implementation of the precise procedures required to establish proof of safety and efficacy. The COVID-19 has resulted in the shutdown of the network of centers conducting stroke clinical trials. This was followed by a phased research restart plan that took local circumstances and regulatory oversight into account. This approach was successful in a reengaging research effort to some extent in all but one of the ongoing investigations within 55 days.

Report Coverage

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Neurology Clinical Trials Market Report Highlights

• The phase II segment dominated the market and accounted for a maximum revenue share of 37.7% in 2021. Between 1999 and 2020, 8,205 CNS trials were conducted, with 609 trials being conducted in 2021
• The interventional segment held the largest market revenue share of 82.1% in 2021
• The Huntington’s disease segment is anticipated to register the fastest CAGR of 6.0% over the forecast period. This is largely due to the high prevalence of the disease around the world
• North America dominated the market and accounted for a revenue share of 46.9% in 2020. The rising prevalence of neurological disorders and the presence of a large number of players in clinical trials drive the market in the region

Regional analysis:

North America dominated the neurology clinical trials market and accounted for the largest revenue share of 46.9% in 2021. The rising prevalence of neurological disorders and the presence of a large number of players in clinical trials is driving the market for neurology clinical trials in the region. As the population ages and total life expectancy rises, dementia would become more common, with an estimated 8.9 million Americans aged 65 and older suffering from Alzheimer’s disease or another dementia by 2030.

In Middle East and Africa, the market for neurology clinical trials is anticipated to register the fastest CAGR of 8.7% throughout the forecast period. The Sub-Saharan Africa region is afflicted by neurological, psychiatric, developmental, and substance use disorders that are caused by or aggravated by a lack of adequate nutrition and infectious disease, regardless of the fact that disorders connected to increasing longevity, such as stroke, are on the rise. Due to the conflict-torn environment in the Middle East and North Africa, major depressive disorders and post-traumatic stress disorder are serious problems.

Some of the prominent players in the Neurology Clinical Trials market include:

IQVIA; Novartis; Covance; Medpace; Charles River Laboratories; SyneousHealth; Icon Plc; GlaxoSmithKline; Aurora healthcare; Biogen

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

• By Phase
  • Phase I
  • Phase II
  • Phase III
  • Phase IV
• By Study Design
  • Interventional
  • Observational
  • Expanded Access
• By Indication
  • Epilepsy
  • Parkinson’s Disease (PD)
  • Huntington’s Disease
  • Stroke
  • Traumatic Brain Injury (TBI)
  • Amyotrophic Lateral Sclerosis (ALS)
  • Muscle regeneration
  • Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Neurology Clinical Trials industry analysis from 2022 to 2030 to identify the prevailing Neurology Clinical Trials industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Neurology Clinical Trials industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Neurology Clinical Trials industry trends, key players, market segments, application areas, and market growth strategies.

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